Some simple DIY investing hacks could save you thousands of dollars. But, as a rookie, the thought of tackling your own home renovation projects might be a little intimidating. Bringing sweat equity to a deal, however, can help you save a ton of money and even make you more valuable in a partnership.
In this episode of the Real Estate Rookie podcast, we’re chatting with Shaun Kelly, whose road to real estate investing was anything but fast or easy. Shaun spent nine years in the analysis paralysis phase before he finally pulled the trigger on his first deal. Since then, he has built a portfolio of nine properties in four years and has refined his DIY skill set to the point where he can perform all types of rehab projects for a fraction of the typical cost.
Whether you’re looking for creative ways to increase profits on your investment properties or bring value other than capital to a partnership, tune in to hear Shaun’s biggest money-saving DIY hacks and his journey, from making simple fixes to performing major home renovations. Ashley and Tony discuss their own experiences with DIY projects and list the jobs they prefer to outsource to a pro!
In This Episode We Cover
DIY hacks that will help you save a FORTUNE on home renovation projects
How to stop overanalyzing and finally land your first real estate deal
How to account for sweat equity when structuring a partnership
The importance of documenting your journey as a new real estate investor
Harnessing the power of YouTube to build your network and create another income stream
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Analyze Your Deals with the BiggerPockets Investment Calculators
Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio
Follow Ashley Wilson on Instagram
Book Mentioned in the Show:
Real Estate Partnerships by Ashley Kehr and Tony Robinson
The Gap and the Gain by Dan Sullivan
Connect with Shaun:
Shaun's BiggerPockets Profile
Shaun's YouTube
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-311
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395: Rookie Reply: Using a Car as a Down Payment (!?), ADUs, & House Hacking 101
394: The Hidden Property Damage That Could Ruin Your Home Renovation…w/Jessica Bryant Walton
393: $120K/Year from ONE “Sensory” Rental Property with a “Secret” Amenity w/Chase Charifa
392: Rookie Reply: Should I Move (and Quit My Job!) to Invest in Real Estate?
391: The Low-Cost Way to “Invest” in Real Estate in 2024 (Without Buying Rentals) w/Veronica Garreton
390: Making Over $10K/Month Thanks to “Conscious” Multifamily Investing w/Yiting Yang
389: Rookie Reply: How to Find a Property Manager & Set up Rentals Out of State
388: How to Save Your Cash Flow When Dealing with a “Problem” Property w/Ashley Robinson
387: The Step-by-Step Guide to Flipping Houses and High-ROI Home Renovations w/James Dainard
386: Rookie Reply: Will It Cash Flow? Analyzing BRRRRs, Hotels, & Commercial Deals
385: How to Save Your Rental Property When “Good” Tenants Turn BAD w/Chelsea Borden
384: The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton
383: Rookie Reply: “Managing” Your Property Manager & How to Invest While in Debt w/Tiamo Wright and Mindy Jensen
382: The REAL Cost of Bad Tenants and “Cheap” Contractors (Mistakes to Avoid!) w/Dan Stowell
381: Making $7K/Month in PURE Cash Flow with Only 3 Rental Properties w/Bailey Kramer
380: Rookie Reply: How to Start Investing, Walking Away from Deals, & Co-hosting
379: How to Buy Your First or Next Rental Property in 90 Days (or Less!) w/Dave Meyer
378: Paying Off $100K in Debt with 3 Rentals Thanks to THIS Low-Money Strategy w/Dave Williams
377: Rookie Reply: Cash Flow vs. Appreciation, Using HELOCs, and Trashed Rentals
376: The $150K “Stolen” Rental Property and How to Avoid a Real Estate Scam w/Matt Drouin
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